Potential Investors See Promise in Endeavor and Fenway’s PGA Tour Venture

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Posted on: September 29, 2023, 09:13h. 

Last updated on: September 29, 2023, 09:13h.

The PGA Tour Strikes Deal with LIV Golf

PGA Tour Endeavor Fenway LIV Golf
Endeavor CEO Ari Emanuel, who was the basis for the “Entourage” character Ari Gold played by Jeremy Piven, is reportedly mulling a significant investment in the PGA Tour. Bloomberg reports Endeavor isn’t the only entity seeking a piece of the pro golf tour. (Image: Getty)

The PGA Tour has reached a settlement with LIV Golf, a Saudi-funded professional golf circuit, in June.

Bloomberg has reported that the Public Investment Fund (PIF) of Saudi Arabia is not the only entity interested in investing in the PGA Tour. Endeavor Group Holdings, Fenway Sports Group, and Henry Kravis of KKR & Co. are also exploring investment opportunities in the golf organization.

According to Bloomberg, discussions are still in the preliminary stage and no transaction is guaranteed. It remains unclear whether the PGA Tour would dissolve its partnership with PIF or bring on additional investors to enhance its financial position.

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LIV Golf has faced criticism globally for using sports to improve Saudi Arabia’s reputation, a practice known as “sportswashing.” The Saudi monarchy has been linked to corruption, human rights abuses, and the 9/11 attacks.

PIF has invested billions in LIV Golf, offering lucrative signing bonuses and high tournament prize money. However, this spending has led to accusations of sportswashing.

The PGA Tour has responded to the speculation

Throughout 2023, the PGA Tour has demonstrated its strength, reach, and value as an enterprise. Our focus continues to be on finalizing an agreement with the Public Investment Fund and the DP World Tour, however, our negotiations have resulted in unsolicited interest from other investors,” a PGA Tour spokesperson said in a statement.

Endeavor, Fenway, and Kravis have not commented publicly on the rumors.

Gaming Connections

Fenway Sports Group, owned by John Henry and Tom Werner, has a stake in various sports teams such as the MLB Boston Red Sox, NHL Pittsburgh Penguins, and Liverpool FC.

Endeavor, a Beverly Hills-based company, has diversified its business focus and acquired the UFC in 2016. It has also ventured into the gaming industry through its acquisition of OpenBet.

Endeavor’s acquisition of OpenBet for $800 million has made it a major player in the sports wagering business, which has gained popularity among US bettors.

Stay tuned for more updates on the PGA Tour and its potential new investors!



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